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SBI vs ICICI vs HDFC vs Axis Bank vs PNB: What Are The ATM Withdrawal Charges In These Different Banks?

What are the ATM withdrawal charges in different banks in India? Read on to find out.

<div class="paragraphs"><p>Source:&nbsp;Fanjianhua on Freepik</p></div>
Source: Fanjianhua on Freepik

Each month, a set number of free transactions at their own ATMs are permitted by all the main banks, both in the private and public sectors. Typically, banks charge fees and taxes for any additional transactions. This also includes those for financial and non-financial services, once the limit has been reached. This rule, however, complies with RBI (Reserve Bank of India) regulations. Depending on your account type and debit card, the number of free withdrawals at the ATMs may change.

For several banks, including SBI, HDFC, ICICI, and Axis Bank, the RBI has imposed fees on ATM transactions. According to their announcements, banks may provide a minimum of five free financial transactions every month, regardless of the location of the ATMs. In accordance with a regulation released by the Reserve Bank of India in June of last year, beginning on January 1, 2022, banks are permitted to charge Rs. 21 per transaction above the free monthly transaction limit at ATMs.

Previously, banks could charge Rs. 20 for every such transaction. Beyond the permitted free transactions, customers are charged Rs. 1 extra for both cash and non-monetary uses.

Here is a breakdown of the ATM withdrawal charges in different banks:

HDFC Bank

Only cash withdrawal transactions will be taken into account for billing transactions at HDFC Bank ATMs. All non-financial transactions, including the mini statement, balance inquiry, and PIN change, will be free. On the contrary, transactions at ATMs that are not HDFC Bank ATMs will be charged for both financial (cash withdrawal) and non-financial transactions (pin change, balance enquiry, and mini statement). The most you can withdraw from an ATM belonging to another bank in one transaction is Rs. 10,000. Additionally, for international ATM transactions, the bank levies a fee of Rs 125.

Atreyee Bhattacharjee

Source: HDFC Bank Webiste

ICICI Bank

When it comes to free withdrawals, ICICI Bank adheres to the same guidelines as other banks. Customers are entitled to 5 free cash withdrawals at ICICI Banks ATMs per month. For customers withdrawing cash at non-ICICI Bank ATMs, first 3 transactions are free per month for 6 metro areas, namely, New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata. Post this, an additional bank fee of Rs 21 will be charged for all financial transactions and Rs. 8.50 per non-financial transactions.

Also read: ICICI Bank Revises Interest Rates On Fixed Deposits; Earn Upto 6.25%

SBI

The State Bank of India (SBI) allows 5 free withdrawals from their ATMs. For other bank ATMs in major cities, such as those in Kolkata, Mumbai, New Delhi, Bengaluru, Hyderabad, and Chennai the number drops to 3. The bank will charge Rs. 10 for transactions from SBI ATMs and Rs. 20 for transactions from ATMs that are not owned by SBI. Likewise, for non-financial transactions, SBI ATMs will charge Rs. 5 and Rs. 8 from other bank ATMs that exceed the predetermined limit.

Axis Bank

5 free transactions are available at Axis Bank ATMs, while 3 are available at ATMs that are not owned by Axis Bank (in metro locations). After this cap, both Axis and Non-Axis ATMs would charge Rs 21 for cash withdrawals and Rs 10 per transaction for non-financial transactions.

Punjab National Bank

The Punjab National Bank provides 3 free transactions at other banks' ATMs situated in metro cities and 5 free transactions at its own ATMs. Following that, the bank will charge a minimum of Rs 10 for each transaction made at PNB's bank ATMs. Likewise, the bank will charge a fee of Rs 20 per financial transaction and Rs 9 for each non-financial transaction at other bank ATMs.

Disclaimer: The information mentioned above was taken from the concerned bank's official website at the time of writing. BQ Prime is not liable for any changes. Please research before you invest.